The Credit and Collections Director will work under the direction of the Chief Financial Officer and will work closely with the Sales Manager, Branch Managers and Credit and Collections Manager to manage the credit and collections activities for Cloverdale Equipment. The Credit and Collections Director will play a hands-on, supervisory and advisory role to facilitate effective collection management strategies to develop and support continuous improvement of the methods required to reduce Cloverdale’s collection and credit evaluation times. The ideal candidate will be experienced with both billing and collections in the construction industry and has a minimum of 10 years’ experience in collections and credit management.
Develop target measures of collections and systems to manage accounts receivable.
Oversee the day-to-day activities of the collection staff to ensure the timely receipt of receivables and achievement of target levels for collections.
Assign and review investigations and verification of financial status and reputation of prospective customers applying for credit, including documentation to substantiate findings. Recommend rejection or approval of credit applications.
Update customers' credit activities.
Establish credit limitations on customer accounts and handle special credit arrangements and deviations from standard terms of payment.
Develop effective communications with Vice President of Rentals, Branch Managers, Sales, Parts and Service with the authority of the CFO and CEO to keep all parties informed of credit concerns, collections problems and updated controls. Work with the CFO to escalate matters, when appropriate.
Oversee fraud investigations and determine possible legal action and collection for worthless checks and delinquent accounts.
Review collection reports to ascertain the status of collections and outstanding balances and to evaluate the effectiveness of current collection policies and procedures.
Audit delinquent accounts considered to be uncollectible to ensure maximum efforts have been taken before assigning bad debt status.
Negotiate payment plans and/or settlements subject to management approval and ensure that payment plans are adhered to.
Submit delinquent accounts to court or outside agency for collection.
Compile and analyze statistical data on fraudulent use of credit cards to develop procedures designed to deter or prevent future abuses.
Assist management in formulating credit policies.
Prepare various status reports and analyses for firm management and credit meetings including watch lists, lists of equipment left in the field and large client reports.
Stay current with and advise of industry best practices, new developments and trends in the collections and accounts receivable profession.
Manage collection staff; recruit, train and evaluate as necessary; develop staff through formal and informal coaching, mentoring, appropriate assignments and annual performance review.
Act as a primary resource in determining client creditworthiness both at the onset and throughout the client engagement.
Maintain a strong working relationship with Credit and Collections Manager and Office Managers to ensure client billing requirements are being met such that clients can pay invoices without unnecessary delays.
Other duties as assigned.
Bachelor’s degree and related coursework in accounting/finance.
Ten years of credit and collections management experience in the construction or construction services environment or fifteen years credit and collection experience in a senior role at a large company.
Prior billing experience in a construction or construction services environment.
Minimum of three years supervisory experience and ability to supervise and develop staff effectively.
Excellent analytical skills and attention to detail.
Must have superior communication skills with the ability to clearly summarize complicated concepts in both written and oral communications in a meaningful way.
Exercise sound judgment and possess the confidence and interpersonal skills to communicate effectively with Cloverdale’s senior management, staff and customers.
Excellent time management and organizations skills with the ability to multi-task and prioritize various departmental responsibilities.
Strong negotiations and facilitation skills.
Ability to build relationships and foster a collaborative environment with all stakeholders.
Ability to anticipate, identify, evaluate and solve varied problems, as well as improve processes and efficiencies.
Knowledge of the Microsoft Office suite, including Excel, Access, and Word. Experience with DIS/NDS or comparable construction billing software and Cortera or equivalent financial background products is desirable.
Ability to travel approximately 10% to branch offices.
Cloverdale Equipment is currently seeking a highly-skilled, career-oriented individual ready to be part of a growing company and develop a new position within that company!
To learn more about Cloverdale Equipment Company, visit https://www.cloverdale-equip.com. An application is required and available here. Please submit it with a cover letter and resume
About Cloverdale Equipment Co.
Cloverdale Equipment Company is a premier privately-owned, family-run construction equipment company with a Midwestern presence through branches based in the Muskegon-, Cleveland- and Pittsburgh areas. Cloverdale has operated from a headquarters in Oak Park, Michigan for more than 55 years. As a dealer of Skytrak, Broderson, JLG, Genie, National Crane and Doosan equipment, Cloverdale rents, sells and services construction equipment in the Great Lakes region. With more than 110 employees, Cloverdale Equipment provides superior products and service in a timely manner to clients in numerous industries. We are currently seeking a Credit and Collections Director for our Oak Park office.